Okay Bears, Magic Eden and tale of Solana NFT’s ‘vibrant trading scene’ - Aliens: AI Crypto News & Markets Updates
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Okay Bears, Magic Eden and tale of Solana NFT’s ‘vibrant trading scene’

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AMB Crypto

Sun, Jul 03, 2022

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The Okay Bears NFT collection on Solana [SOL] is one that has tumbled across the past month.

It is over 91% down in sales volume during this period while other collections on Solana are registering tremendous numbers.

pic.twitter.com/1PEDo6l6tW — Solscan🔍 (@solscanofficial) July 2, 2022 The Solana NFT ecosystem has a market cap of $3.5 billion with over 16 million NFTs minted.

The tweet also claims that “Only one-third of the total NFTs were listed on marketplaces.” Despite the brunt of the market, May can be regarded as the best-selling month for Solana NFTs. The trading volume clocked at 4.9 million during the month along with two million freshly minted NFTs. Meanwhile, Magic Eden continues to dominate the Solana NFT marketplace.

With a share of over 90%, Magic Eden had a $1.8 million market cap during May. Additionally, the tweet also complimented the Solana network’s performance with regard to their NFT sales.

12/ Solana’s seamless performance & the chain’s low gas fee have facilitated the generative nature of NFTs, creating a hassle-free environment where NFT producers can mint artsy & high utility collections.

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